Iron ore is doing literally nothing as Lunar New Year celebrations continue

This table from Metal Bulletin, showing price movements across various grades on Tuesday, tells the story.

Source: Metal Bulletin

Safe to say, it’s a little quiet.

“The iron ore remained stable following the Chinese New Year celebrations. Subdued market activity on the back of the public holiday has resulted in a flat iron ore market,” said Metal Bulletin.

The lull in market activity is not usual at this time of year with activity levels across spot, physical and futures markets likely to spring back to life on Friday as Golden Week holidays in China conclude.